By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Nigerian equities on Wednesday slid 0.52 percent amidst weak company results and profit-taking across key Consumer Goods and Insurance counters.

At the end of today’s trading on the Nigerian Stock Exchange (NSE) all-share index (ASI) closed at 25,145.28 points, while market capitalisation fell by N45.41billion to N8.65 trillion.

“Today’s activities further cut the Month-to-Date gain to 2.34 percent and increased the Year-to-Date loss to 12.21 percent,” according to Cordros daily market update.

The update says the Consumer Goods and Insurance indices shed 1.98 percent and 0.51 percent respectively, following sell-offs in the shares of beer producer, Nigerian Breweries Plc and reinsurer, Continental Reinsurance Plc by 4.32 percent and 4.40 percent apiece.

On the contrary, the Banking and Industrial sectors appreciated 3.24 percent and 1.65 percent each on gains recorded in the shares of Nigeria’s top tier lender, Guaranty Trust Bank Plc and cement producer, Dangote Cement Plc by 0.28 percent and 1.23 percent respectively.

Similarly, price appreciations in the shares of first dual listed Nigerian oil and gas upstream firm, Seplat Petroleum Development Company Plc and oil marketing major, Oando Plc both gaining 3.33 percent and 0.25 percent apiece; boosting the Oil and Gas index by 0.86 percent.

The Cordros report affirmed that market breadth remained negative at the close of the day’s business on the Nigerian bourse, posting 15 gainers and 23 losers.

Manufacturer of foam furniture and furnishings, Vitafoam Nigeria Plc emerged the top gainer with a gain of 0.45 kobo per share; while Africa’s global lender, the United Bank for Africa Plc topped the losers chart with a loss of 0.33 kobo per share.

In terms of turnover, total volume traded on the Nigerian equities market climbed by 78.35 percent to 504.21 million shares worth N2.14 billion and traded in 3,374 deals.

“With positive investors’ interest across key Banking, Industrial Goods and Oil & Gas counters today, we expect profit-taking to be subdued tomorrow,” the Cordros update added.

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By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Thursday closed a four-day trading week higher as the all-share index (ASI) and market capitalisation appreciated by 0.80 percent to close the week at 25,899.91 and N8.909 trillion respectively.

Similarly, all other Indices finished lower during the week, with the exception of the NSE Main Board Index, NSE 30 Index, NSE Banking Index and the NSE Consumer Goods Index that increased by 1.68 percent, 1.47 percent, 1.37 percent, and 4.96 percent respectively, according to the NSE’s weekly stock market report.

This is coming on the heels of positive investors’ interest across key Consumer Goods and Banking counters.

At the close of the week’s trading on the domestic bourse, the NSE reported a turnover of 1.552 billion shares worth N10.453 billion in 14,994 deals were traded by investors compared to a total of 11.907 billion shares valued at N18.338 billion that exchanged hands last week in 19,508 deals.

According to the report, the Financial Services Industry measured by volume led the activity chart with 1.187 billion shares valued at N7.298 billion traded in 10,457 deals; thus contributing 76.49 percent and 69.82 percent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 160.334 million shares worth N1.547 billion in 2,167 deals. The third place was occupied by the Conglomerates Industry with a turnover of 79.549 million shares worth N122.754 million in 527 deals.

The NSE reports that trading in the shares of Nigeria’s top tier lenders, Zenith Bank International Plc, Guaranty Trust Bank Plc and investment services firm, United Capital Plc measured by volume accounted for 536.253 million shares worth N5.852 billion in 4,735 deals, contributing 34.55 percent and 55.98 percent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 118,976 units of Exchange Traded Products (ETPs) valued at N1.267 million executed in 20 deals, compared with a total of 294,047 units valued at N3.209 million transacted last week in 42 deals.

On bonds, a total of 91,918 units of Federal Government Bonds valued at N100.479 million were traded in 7 deals compared to a total of 12,470 units of Federal Government Bonds valued at N14.348 million transacted last week in 8 deals.

A summary of price changes in the review period shows that 22 equities gained in price during the week, higher than 20 of the past week.  On the flipside, 38 equities lost in price, lower than 41 posted the previous week, while 129 equities remained unchanged higher than 128 recorded last week.

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By InvestAdvocate

Lagos (INVESTADVOCATE)- The Nigerian Stock Exchange succumbed to bear pressure on Wednesday as the all-share index (ASI) declined 1.09 percent to close at 25,736.92 points, while market capitalisation fell by N97.49 billion to N8.85 trillion.

This is coming on the heels of profit-taking activities across major counters on the Nigerian bourse cutting the Month-to-Date gain to 4.75 percent and increased the Year-to-Date loss to 10.14 percent, according to Cordros daily market update.

At the close of today’s trading, the Industrial Goods, Banking and Insurance indices depreciated by 1.98 percent. 1.52 percent and 1.23 percent respectively; following the poor performance recorded in the shares of most capitalised listed company and cement producer, Dangote Cement Plc by 2.38 percent, Nigeria’s top tier lender, Zenith Bank Plc by 2.79 percent and insurer, AIICO Insurance Plc by 2.35 percent.

Similarly, the Oil & Gas sector dropped 0.78 percent owing to price declines in the shares of oil marketing company, Mobil Nigeria Plc by 4.64 percent and first dual listed Nigerian oil and gas upstream firm, Seplat Petroleum Development Company Plc by 0.65 percent.

On the flipside, the Consumer Goods index which remained resilient emerged the sole gainer climbing up by 0.96 percent on the back of a sustained rally in the shares of beermaker, Nigerian Breweries Plc by 4.04 percent.

Market breadth at the close of business on the Nigerian bourse was significantly negative, with nine (9) gainers and 32 losers posted.

According to the NSE’s daily market statistics, aviation cargo, aircraft handling and passenger facilitation company, Nigerian Aviation Handling Company Plc (NAHCO Aviance) emerged the top gainer with a gain of 0.19 kobo per share; while Cadbury Nigeria Plc topped the losers chart with a loss of N1.67 per share to close the session

In terms of turnover, total volume traded on the Nigerian equities market, climbed up by 15.74 percent to 398.28 million shares worth N2.65 billion and traded in 3,581 deals.

“With no positive catalyst on the horizon, we opine that profit-taking will continue in tomorrow’s session,” the Cordros update affirmed.

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